MF holding %

6.35

Institutional holding %

15.60

Dilip Buildcon Ltd. share price forecast

The 14 reports from 7 analysts offering long term price targets
for Dilip Buildcon Ltd. have an average target of 991.71. The consensus estimate
represents an upside of 161.66%
from the last price of 379.00.

Owing to increase in debt we have ascribed a 25% P/E valuation discount and value EPC business at 13.5x, we maintain BUY with reduced TP of Rs 817/sh (13.5x FY20E EPS and BOT at 1x equity invested). DBL delivered muted execution of Rs 16.3bn (2% miss). EBIDTA Margin was in line with guidance at 17.3%. APAT at Rs 832mn was 37% below estimates owing to higher depreciation/interest/tax rate.

Dilip Buildcon

Dolat Capital

DBL received order inflows of 20 projects in FY18 of which 12 are road HAM, 7 are road EPC and 1 in urban development leading to orderbook of `240.9 bn providing revenue visibility of 2.8x TTM revenue. In the current scenario where, weak balance sheet-companies are facing difficulties for financial closure, DBL has proved its excellence by completing financial closures for 3 HAM projects and expects other 9 to be completed within scheduled time....

Dilip Buildcon

Kotak Securities

DBL results for the quarter were ahead of our estimates led by better than expected execution and margins. Better than expected order inflow during FY18 and a robust order book provides healthy visibility of future earnings...

We maintain BUY with a TP of Rs 1,434/sh (10x FY20E EV/EBITDA and BOT at 1x equity invested). DBL delivered strong execution with 1QFY19 revenue beat of 3.7%. Revenue for 1QFY19 came in at Rs 24.4bn. Margins continued to be higher than industry at 17.8%. APAT at Rs 2.5bn was 30.9% above our estimates on account of deferred tax reversal impact of Rs 173mn. Adjusted for deferred tax APAT was 22.0% above estimates. There was no early completion bonus in 1QFY19.

We maintain BUY with a TP of Rs 1,434/sh (10x FY20E EV/EBITDA and BOT at 1x equity invested) DBL continued to deliver strong execution with 4QFY18 Revenue beat of 15.3%. Revenue for FY18 came in at Rs 77.5bn. DBL has consistently demonstrated industry beating 18.1% EBITDA margins in FY18. Despite a muted 9MFY18, ~Rs 141.1bn (EPC portion) of orders were bagged in FY18 as NHAI tendering picked up pace in 4QFY18.

Dilip Buildcon

Dolat Capital

DBL with its differentiated business model that lays on project selection and execution with operational efficiency continues to remain one of the prime beneficiaries of Govt's Bharatmala project (` 6.95tn). With its presence across 13 states of India (as on Mar'18) and signing of an agreement with Shrem Group (Aug'17) to exit 100% from its 24 BoT projects for ` 16bn,...

Dilip Buildcon Limited (DBL) is an India-based company engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The Company undertakes contracts from various government and other parties and special purpose vehicles promoted by the Company. It operates through construction and engineering contracts segment...

Dilip Buildcon

Dolat Capital

DBL's standalone revenue grew sharply by 39.8% YoY to `19.4bn in Q3FY18 (5.7% above estimates) due to better execution run rate in Road and Mining segments. EBITDA margin down 223 bps YoY to 17.7% (55bps below estimates) primarily due to higher material costs by 226bps at 76.9% of revenue. Adj. PAT grew by 51.6% YoY to `1.6bn due to stellar operating performance coupled with lower tax rate which stood at (0.5%) vs. 5.3%. We reiterate Buy on the stock due to its differentiated business model,...

Dilip Buildcon

Dolat Capital

DBL's standalone revenue grew sharply by 72.6% YoY to `15.8bn in Q2FY18 (37.2% above estimates) due to better execution run rate in Road and Mining segments. EBITDA margin expanded 107 bps YoY to 18.0% (in line with estimates) primarily due to better operating efficiency. Adj. PAT grew sharply by 12.6x YoY to `881mn due to stellar operating performance coupled with lower tax rate which stood at (5.3%) vs. nil. We reiterate Buy on the stock due to its differentiated business model, proven execution...

Maintain BUY, with an increased SOTP-based TP of Rs 942/sh (18x SepFY19E EPS, BOT at 1x equity invested). DBL delivered a stellar 2QFY18 PAT beat of 15.3%, led by a pick-up in execution and an early completion bonus of Rs 280mn. On the back of robust 1HFY18 performance, DBL has raised revenue guidance to Rs 70bn vs Rs 65bn earlier. Order inflows remain muted, owing to GST and tepid bidding in the quarter.

Dilip Buildcon Limited (DBL) is an India-based company engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The Company undertakes contracts from various government and other parties and special purpose vehicles promoted by the Company. It operates through construction and engineering contracts segment. Its business of construction and development of real estate is at nascent-stage and no operations have commenced. Its subsidiaries include DBL Ashoknagar-Vidisha Tollways Limited, DBL Bankhlafata Dongawa Tollways Limited, DBL Jaora Sailana Tollways Limited, DBL Mundi-Sanawad Tollway Limited, DBL Nadiad...